AssetDesign

SPY Wave Count Suggests Lower Price

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
This week might have marked a three week test of the high. Lower prices ahead. Fibs suggest down to 360 level. Surprisingly, with every opportunity for the market to crash (bank scares), SPY has held up well. Volatility continues to fall. Long term, suggests that we are in a larger impulse wave higher. Look for buying opportunities in the next few weeks with much higher prices to come.

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